The first of India's entrants in the Crypto space Unocoin, has launched a new application with the feature that supports its users with FASTag account top-ups along with a hassle-free interstate commute without any extra charge.
For the first time in India, Crypto is being used as a mode of payment for a service such as this one. Foreign countries like El Salvador and the USA already accept bitcoin as a legal means of payment by users for various products.
The National Highway Authority of India operates the FASTag, which is an electronic toll deduction system, as a mandatory payment system to enable contactless toll payment for vehicles. This digital platform facilitates electronic toll deductions without the need of waiting in queues.
With the newly introduced feature, a user can easily access this service. The person simply needs to deposit or purchase Bitcoin in the Unocoin Wallet and also should buy a pre-secured FASTag sticker to avail of this facility.
The user can choose any of the 17 operators listed on the platform and after that they would be required to enter the vehicle registration number and FASTag top-up amount.
Commenting on the new service, Sathvik Vishwanath, CEO & Co-Founder, said, “In a bid to celebrate the increased usage of Crypto users on our platform, we introduced bitcoin as a new mode of payment gateway for FASTag. With this development, Unocoin aims to make the interstate travels seamless and encourage more Indians to adopt this smooth payment method for various other transactions as well”.